Revenues at Reuters, the global news and technology provider, declined in the first half of the year despite its streamlining programme which has delivered savings of £30m (€42.3m).

Revenues were down 12% in the first half of the year to £1.3bn, compared with £1.5bn in 2002. However, Reuters did return to profitability, recording pre-tax profit of £87m, compared with a loss of £10m in 2002.